Italy PM says will not interfere in Generali-Intesa affair

Reuters Staff

1 Min Read

VALLETTA, Feb 3 (Reuters) - Italian Prime Minister Paolo Gentiloni said on Friday his government was following a possible tie-up between its biggest retail bank, Intesa SanPaolo and insurer, Assicurazioni Generali, and would not interfere.

Intesa said last month it was examining possible “industrial combinations” after sources said the bank was mulling a share offer to take a majority stake.

“The government follows all cases of a certain importance, as is its duty, but it will not interfere,” Gentiloni told reporters when asked about the possible tie-up after a meeting between European Union leaders in Valletta. (Reporting by Steve Scherer and Francesca Piscioneri; Editing by Crispian Balmer)